Chartered Accountant (AIR-16), 4 years experience with Aditya Birla Group, Mumbai, Currently practicing in GST; passionate about teaching.

Palkesh Asawa

In this course, I shall talk about composition scheme as per Section 10 of the CGST Act. We discuss the various provisions and the conditions that businesses have to fulfil to be covered under this optional scheme along with the pros and cons of the same.

Choose from the various concepts taught in a comprehensible way for students looking to strengthen their CA preparation.

CA Foundation

English

GST Course 6: Composition Scheme for CA

Goods and Services Tax Law

Elective: Indirect Tax Laws

CA Final Group 2

CA, CS, and CMA

Ace the toughest competitive and government exams in India 

Test Preparation

Introduction to the course where we talk about the basic necessity of composition scheme and the context

Introduction

In this lesson we talk about the basics of composition scheme along with the most important provisions of composition scheme including aggregate turnover and the maximum rate of tax.

Section 10(1) of CGST Act

In this lesson we talk about conditions for composition scheme as per section 10(2) of CGST Act. Composition scheme is not allowed in case of interstate supply of goods, and in case of services etc.

Conditions for Composition Scheme

What happens if a single legal person has branches in multiple states and wants to opt for composition scheme? Is it allowed? What are the conditions?

Composition Scheme for Multiple Registrations

The concept of input tax credit for composition scheme dealers. Since they cannot claim ITC, it becomes part of their cost. As such, this becomes relevant for their costing purpose.

Input Tax Credit for Composition Persons

How to decide whether to go for composition scheme or regular scheme? In this lesson we shall understand this with appropriate examples and calculations.

How to Decide Whether to Opt For Composition?

What are special category states? What is the composition turnover limit for special category states? What happens if one registration is in special category states and another is in other states?

Rules for Composition Scheme

What is the last date for opting for composition scheme? What happens if you could not file the intimation? Can you apply for composition during the year?

Intimation to Opt for Composition Scheme

What happens if you have stock at the time of opting into composition scheme but the input tax credit related to that stock has already been used? What is the procedure for reversal or payment of ITC?

ITC reversal for composition opt-in

Meaning of casual taxable person and non resident taxable person. Other conditions for opting composition scheme as per Rule 5 of the CGST Rules.

Conditions for composition as per Rule 5

We talk about the purpose of notifications and difference between notifications and the Act in terms of flexibility for amendments. In this lesson we will also talk about the items that are specifically excluded from composition scheme.

Notification 8/2017 for composition scheme

What happens when a person is already registered in composition scheme but then stops meeting the conditions? What happens when one moves from composition scheme back to regular tax paying scheme?

Validity of composition levy

In this lesson we talk about what happens if the tax officer has reason to believe that a person is not eligible for composition scheme but is still paying tax under it? What is a show cause notice?

Other rules of composition scheme

In this lesson we take a review of all the things that we've learnt in composition so far. This quick refresher is useful to watch before examinations.

Review of composition scheme

Myself a Chartered Accountant (CA) & Company Secretary (CS) & having the 10 years experience. I have worked with TCS ICICI Bank DK etc. Now 

CA Arun Chhajer

(Hindi) GST Audit Checklist

Rajesh K Verma

This course will cover gst topic with latest amendment . Hope that you will enjoy this course. Thank you

(Hindi) CA Exams: Goods and Services Tax Law for May / November 2019

In this course we talk about the place of supply of services in case the recipient or supplier is outside India (section 13 of IGST Act)

(Hindi) GST Course 4: Place of Supply (Section 13 of IGST Act)

In this course we talk about the provisions of levy and collection of GST, including the charging section, basic exemption limit, composition scheme, mixed and composite supplies.

GST Course 5: Charge of GST

This course describes basic concepts of Customs law, indirect tax, ca exams.

Lessons

14 lessons • 2h 24m

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Introduction

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Section 10(1) of CGST Act

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Conditions for Composition Scheme

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Composition Scheme for Multiple Registrations

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Input Tax Credit for Composition Persons

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How to Decide Whether to Opt For Composition?

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Rules for Composition Scheme

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Intimation to Opt for Composition Scheme

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ITC reversal for composition opt-in

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Conditions for composition as per Rule 5

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